₦airaland Forum

BUAFOODS sighted at above 400 intra-day?

I think Sugar/Salt is presenting a good opportunity for those who can wait and be patient.

We don dey talk this thing here now, when market is battering both, when it takes off, someone will now come out to ask if it's good for buy....
My ogas are there to answer, make dem count me out.

We don't even know the games those guys are playing again......na Siddon look we dey for now...

megawealth01:
That FBN eh... Na game of control dey happen sha

No be small thing.....
FBNH closed @34!
ZENITH: @35.30
GTCO: @39.50

Elephant trying to teach ZEE some lessons on how to be a leader, it's not by carrying most capitalized banking stock for head alone....
* I guess we should be expecting better dividend from FBNH as well.

USAfall2024:
Nascon (#66.00) closed 10% higher than DanSugar (#60.00) today . Is there any change with the merger scheme? Everything looks uncertain at this point.

I think market reactions has to do with their results.....

Fantastic result is expected from NASCON..
If you check thru the Q3 result, it seems SALT made the revenue of the whole 2022 in Q3 already; Q4 will send the revenue high up.....
* Just saying this offhand, may not be accurate, e don tey wey I scan thru the result....

As for SUGAR, FX loss will impact on the result...

But Overall, both will be fine in the short/medium to long run......Merger news will take care of whatever difference that may be btw them.
I think opportunity is just presenting itself to those who are yet to enter the bus.
*My personal opinion*

crownprince2017:
Between presco and MTN at less than 230, which one will you buy currently and why

Me I'll go with MTNN
Reasons best known to me....
Sorry, I no go fit shalaye at the moment

KarlTom:
A rally for DANGSUGAR imminent...

Maybe after release of result things will be clearer....
Those guys are playing some games best known to them in the Market........but there are increased activities in the stock recently

vacanci:
Na so FBNH want to overtake Zenith? na wa o

No be only ZENITH self, make GTCo dey get ready.....lol.

NASCON
Some swift picks.... up to 66.......
* Ahead of Sugar intra-day.....so far


FBNH
@34.10!!
The offers looks suspicious, like they lined it up for Cross Deals before now.......just say make I no too forward....
Another N1.1bn don enter the stock....

PETERiCHY:
We have started repurchasing the OANDO we Sold at #15.15k
BARGAIN HUNTERS TAKE NOTE

You ehnnn

yMcy56:
Already, FBNH displaced UBA again......to be trailing ZEE behind...
FBNH : 29.05.

FBNH closed @31!!
Seems this Oga don dey reach that side small small....
ZENITH watch out! Elephant is coming.....

WEMA that was selling at 7.03 or so throughout the trading session closed @8.30! Lol.

BUAFOODS @379...

ositadima1:
@Mcy56, can you please help me with something?
If you use a broker other than Morgan Capital, could you provide me with their daily price list for Monday, February 19, 2024? .....similar to Morgan's format. I hope this is not too much to ask.

Pricelist from Atlas's attached

sterlingD:
The rate of red AKA shedding is worrisome

It's well.
Patience is required at this stage.
It's not only ACCESS that was affected.

sterlingD:
What is happening to ACCESS?I am not understanding again.l hope that next week their results will roll out

Nothing is happening to ACCESS!
I think trading here is just sentimentally based..
People may be skeptical on the result and the likely dividend payout.
Sentiment will turn positive once ACCESS delivers as per expectations. My opinion.

Another thing I noticed was/is the sell off by some people due to the demise of the CEO...... and, fear of uncertainty about a bank of this magnitude is unnecessary because adequate succession/continuity plan had been put in place, that the exit of anyone will not affect the Coy.
We can see it from the announcement of Ms. Agbede shortly after Herbert passed on.

GTCO
Cross Deals and more cross deals @39.85...
Over N1.2bn spent in transactions so far....

Already, FBNH displaced UBA again......to be trailing ZEE behind...
FBNH : 29.05
UBA: 23.85
ACCESS: 21.10

TRANSCORP: Lots of interest in this stock in recent times.....

kaykehin:
Dear Madam, please can you help me with your email address. Thank you in advance.

Your PM replied.
You can check your junk mails

Ajibade123:
Please ma can you suggest some stocks that I can be watching

Maybe this should be done thru mail.
You sent mail this week nah. So I still get your contact.

KarlTom:
29.00 seems like the accumulation by an individual.
The string of trades started about an hour ago...

Started codedly from circa 27.40

vacanci:
My brokers sent me an email to this effect

Ok. Make we dey expect am.....

But Commercial Paper??
Nah Merger document we dey expect o.

vacanci:
Dangote Sugar Commercial Paper is out

Where's the link nah....
Not yet posted on NGX

FBNH @29....
The banks are looking like they're stabilizing and adding flesh to their previous sheddings....
GTCO up with +95k so far.....
ZENITH, ACCESS, FIDELITY, UBA refused to shed major weight so far......much defense from their sides...

KarlTom:
Key BM dates:
DANGSUGAR - 28 FEB, NASCON - N/A
We'll likely know more about the merger...

Maybe the merger news will come with DS result or shortly after result is released.
We're waiting patiently.....

Meanwhile, WAPCO has been getting cross deals and buying attention @35.70 since......
ZENITH also @35.70...

* FG blocked Binance*
https://igberetvnews.com/1462769/fx-crisis-fg-blocks-binance-curb-naira-depreciation/#forward

https://www.nairaland.com/8008167/fg-blocks-binance-coinbase-octafx

https://cryptoslate.com/binance-accused-of-manipulating-nigerian-naira-as-glitch-impacts-p2p-traders/

Meanwhile, SUGAR and SALT met at same price junction earlier.....intra-day.....@61

Both now parting ways again.........
SUGAR @64+ intra-day
SALT @60....

I think SUGAR is cheaper when we compared the two ahead of the Merger.....

The merger just putting people in suspense anyhow....let them do something about it soonest jorr.....the waiting is becoming frustrating.
*Bargain hunters won't like this*

essentialone:
PZ says it is ready to issue new equity, convert debt into equity, launch rights issues, sell off assets, or undertake similar actions...

It's easy for someone to have sensed that something is not right from the way PZ has been trading on the floor before now......
N23 was announced as exit price......just for the price to keep going up to N39 or thereabout.
It's greed that would have kept some people inside it before this RI/Asset sales announcement again......
Na to say make Una dey pray make dem see the 23 pay una self.

Make una no vex o. Maybe I looked at it from my own angle. Someone like me,whatever will make me to wait for exit payment go get strong reason.
PZ holders must have thought they'll up the payout again....

Deadlytruth:
NOTORE

Honestly!
It's been a bad investment since it was listed. I learnt the issue came from the listing price coupled with illiquidity

AUSTINLAZ too....I don't even know what they sell....

UNION DICON SALT....At some point I was even thinking Dangote will buy this one as well.

OK oo. So here's AUSTINLAZ FYE report...
https://doclib.ngxgroup.com/Financial_NewsDocs/40358_AUSTIN_LAZ_AND_COMPANY_PLC-_QUARTER_5_-_FINANCIAL_STATEMENT_FOR_2023_FINANCIAL_STATEMENTS_FEBRUARY_2024.pdf

ndept:
On point in all that you said. Sugar result may not be that good mainly due to forex loss, even though it may not be that huge like the breweries. And again we can see clearly what forex loss did to the account of flourmill, cadbury and others

Well said.
I however have the opinion that NASCON will cover for SUGAR in this scenario.
Just speculations anyway.

Also, if we look at it from the Market's view, there's not much price shedding or dumping in FMN and Cadbury so far......
Maybe the market is considering the revenue much more than the FX loss.....or the FX loss is already priced in??

megawealth01:
Happy Nigeria... We just hope results can start flowing in with some goodies attached

Hopefully.
QUite some Investors still holding on.......no panic dumping witnessed in market....
Low volumes generally across board...

DANGSUGAR
From observation, it seems Sugar is already pricing in the result, after release of result, it might not have much impact on the share price again....

NASCON also maintaining share price range because insiders already seen the result....

We see how it goes....

Meanwhile, some insider activities in TRANSCORP earlier.......cleared up to 14.35 or so..........but selling at 13.50 range so far.......
*Cleared up to 14.70 not 14.35*

Generally, market looks down........no news, no result, no updates yet.......once results starts coming in, we may experience a better outlook......just an opinion.

Some results are expected by Feb ending.....

iHaveMadeiT2:
BUAFOODS and GEREGU playing a game of catch me if you can for DF and Transcorp respectively. In this game of billionaires, na to just follow the money

Lol. The margins are becoming wider now.....and I'm sure Tony is also getting updates of what's happening in the market, as well as Alhaji.

Will be interesting to watch as well as participate in the billionaires' games...

veecovee:
From the price gap between salt and sugar and what my mind is telling me, ... it's like only sugar will pay dividend this year.

Salt will likely pay too...
Why I said this was because of the closed period declared by NASCON in December.......
Also, Q3 was released, so the FYE cycle was completed.
Let's wait for actions and updates from them anyway.

https://doclib.ngxgroup.com/Financial_NewsDocs/39983_NASCON_ALLIED_INDUSTRIES_PLC-CLOSED_PERIOD_AND_FINANCIAL_YEAR_END_CORPORATE_ACTIONS_DECEMBER_2023.pdf

BUAFOODS @348!
Up with +N23 so far...

GEREGU @901!
Up with +N81.20

Looks like the season for BUAFOODS and GEREGU

Those waiting for ASI to fall go wait for long time...

May we be able to identify the next set to move up again....

vacanci:
should there not be a court ordered shareholders meeting first?

The two companies already agreed to a merger.
We'll get update as time goes on.
https://doclib.ngxgroup.com/Financial_NewsDocs/39369_NASCON_ALLIED_INDUSTRIES_PLC-UPDATE_ON_PROPOSED_MERGER_CORPORATE_ACTIONS_AUGUST_2023.pdf

Meanwhile, some insider activities observed in TRANSCORP ......sold down to 12.05 but bids keeps showing up at that junction too.

KarlTom:
Very correct!
Everything seems to indicate that NASCON and Rice have already been absorbed (just waiting for official declaration).
Even DS did not release UFS for Q4 2023.
Let's wait for the outcome of the Board Meeting on 28th Feb...

Technically, NASCON doesn't seems to exist anymore.
Let's keep waiting for update from that angle.
Anyone trying to enter DANGFOODS should be buying until an official announcement is made......and suspension placed on them.